McKenna Donald M 4

What Happened

• Donald M. McKenna, EVP & Chief Administrative Officer of Quad/Graphics (QUAD), had 20,122 shares withheld to satisfy tax withholding related to the vesting of restricted stock. The shares were valued at $6.91 each, for a total of about $139,043. This was a tax-withholding disposition (transaction code F), not an open-market sale.

Key Details

• Transaction date: 2026-03-01; Filing date (Form 4): 2026-03-03 (timely filing).
• Price per share: $6.91; Shares withheld/disposed: 20,122; Total value: ~$139,043.
• Shares owned after the transaction: Not disclosed in the provided filing.
• Footnotes: F1 — withholding of shares to pay tax liability on vested restricted stock; F2 — references shares acquired under the Company Savings Plan as of 02/28/2026 (from plan administrator).
• Transaction code: F (tax withholding). This is routine tax-related withholding, not an open-market sale or purchase.

Context

• Withholding shares to cover taxes is common when restricted stock vests and generally reflects tax mechanics rather than a decision to sell shares; it should not be interpreted as a directional bet by the insider.